Ikarus to buy back Irisbus' Hungarian unit


BUDAPEST, Nov 26 (Reuters) - Hungarian bus maker Ikarus Rt. said in a statement on Tuesday it would buy back the loss-making bus manufacturing activity from Ikarusbus Rt, owned by Europe's second-largest bus maker, Irisbus. Irisbus, 65 percent owned by Fiat unit Iveco and 35 percent by Renault , purchased Ikarusbus at the end of 1999, but due to weak domestic and foreign demand Ikarusbus continues to make losses. Ikarus said under the new ownership Ikarusbus failed to carry out technical ...

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